It was a terrible day with the market breaking crucial support levels lead by heavy selling of large cap stocks. Sensex closed at 8736, down 364 points (provisional) and Nifty at 2692, down 103 points (provisional) from the previous close.
NSE INDEX (2706.15)
Resistance : 2730 / 2765 / 2825 / 2845
Support : 2665 / 2640-30 / 2560
SENSEX (8779.17)
Resistance : 8855 / 8925 / 8985 / 9070 / 9175
Support : 8760-40 / 8655 / 8535
NIFTY FUTURE (2686.40)
Resistance : 2710 / 2750 / 2815
Support : 2645 / 2600
BANK FUTURE (4246.05)
Resistance : 4275 / 4330 / 4415
Support : 4190 / 4135
Results Tomorrow : RELIANCE IND , BHARTI AIRTEL , RANBAXY , RIIL , BHARAT FORGE , BOI , REL POWER , IDEA , KOTAK BK , CIPLA , 3i INFOTECH , VOLTAS , FUTURE CAPITAL
MKT COMMENTS
NIFTY FUT OI down 6.79% with 21% increasing volumes indicating panic unwinding of long positions plus rollover of short positions to next series.
Gap down opening possible, NIFTY FUT to trade negative.
On Thursday,Opening is Flat to Down,
Stay Short Below 2710,Sl Above 2740,Tgt 2685-2660-2630-2570,
Sustain Above 2735,Buy with Sl Below 2705,Tgt 2745-2765-2800-2825.
DIVIS LAB : Below 950 no charm for bulls, Sell with A Sloss at 975,Tgt 800/750/700
Sell ABANOFFS Blw 565,Tgt 540/520,Sl 575
Sell GAIL Below 205,Tgt 200-195-180,Sl 210
Sell HDFCBANK Below 885,Tgt 875-860-830,Sl 900
Buy BOB Above 240,Tgt 245-250-265,Sl 235
Buy BAJAJAUTO Above 455,Tgt 460-470-490,Sl 445
Buy Abv 200,Tgt 205/210,Sl 198
Sell Blw 195,Tgt 190/185,Sl 198
Buy Abv 258,Tgt 261/265,Sl 255
Sell Blw 253,Tgt 249/245,Sl 255
DLF
Buy Abv 183,Tgt 185/190,Sl 181
Sell Blw 179,Tgt 177/174,Sl 181
FUTURES:
Buy HEROHONDA Jan@835,Sl 825,Tgt 839/43/47/55/64/72/80/89/97 (
Sell LIC HOUSNG Jan @227,Sl 233,Tgt 225/24/21/19/16/13/10/07 (
RIL (1119) : Sell @ 1140-45,Sl 1165,Tgt 1095/1075 / Position Short Hold with Sl 1170
SBI (1082) : Sell 1090-95,Sl 1120,Tgt 1055/1020 / Position Short Hold with Sl 1130
TATA POWER (713.6) : Sell @725 +735,Sl 750,Tgt 715/695/680
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